Searching for the top money-making opportunities in the international trade of exports and imports between the Philippines and Canada? Look no further. In this post we rank the 10 most lucrative products exchanged by the two countries.
All told, the Philippines sold US$523.9 million worth of goods to Canadian importers during 2016. That amount represents a -12.3% decrease from the $597.6 million in Canada’s sales to the Philippines two years earlier in 2014.
In contrast, imports of Canadian products into the Philippines amounted to $418 million, less than the tally for exports from the Philippines to Canada. Filipino purchases of Canada’s exported products rose in value by 24.4% from the $336.1 million during 2014.
Top 10 Filipino Exports with Canada
The following major export products represent over three-quarters (77.4%) of total shipments from the Philippines to Canada. Shown within parenthesis is the corresponding percentage value for each product in 2016.
- Insulated wire/cable: US$304.3 million (58.1% of Filipino-to-Canada exports)
- Electro-medical equipment including xrays: $14.5 million (2.8%)
- Coconuts $13.9 million (2.6%)
- Integrated circuits/microassemblies: $13.5 million (2.6%)
- Miscellaneous preserved fruits: $13.1 million (2.5%)
- Coconut/palm/babassu oil: $12 million (2.3%)
- Computers: $9.8 million (1.9%)
- Locks, lock-keys: $9.1 million (1.7%)
- Bread, biscuits, cakes, pastries: $7.9 million (1.5%)
- Sauces, condiments, seasonings: $7.1 million (1.4%)
Computers including optical readers represents the fastest-growing Filipino export to Canada. That product category gained in value by 57,465% from just $17,000 in 2014 to almost $10 million for 2016.
In second place was electro-medical equipment including xrays, which accelerated by 371.2%. Filipino sauces, condiments and seasonings finished third with a 57.9% appreciation, followed by bread, biscuits, cakes and pastries with a 20.8% uptick.
Top 10 Filipino Imports from Canada
Food and lumber-related items dominate the list of major Canadian exports to the Philippines. One interesting anomaly is the $23.9 million worth of potassic fertilizers shipped from Canada which enables the Philippines to grow its own food products.
- Sawn wood: US$71.3 million (17% of Filipino imports from Canada)
- Wood carpentry, builders’ joinery: $46.8 million (11.2%)
- Sauces, condiments, seasonings: $33.4 million (8%)
- Potassic fertilizers: $23.9 million (5.7%)
- Wheat: $20.7 million (5%)
- Poultry meat: $17.7 million (4.2%)
- Other prepared/preserved vegetables (frozen): $12.5 million (3%)
- Red meat offal: $12.4 million (3%)
- Concentrated/sweetened milk, cream: $11.2 million (2.7%)
- Dried shelled vegetables: $10.1 million (2.4%)
Six Canadian products imported into the Philippines grew in value from 2014 to 2016. Wood carpentry and builders’ joinery skyrocketed by 1,511% which bodes well for Canada’s lumber exports. Imports of frozen prepared or preserved miscellaneous vegetables from Canada appreciated by 322.6% in 2016 compared to 2014.
Import purchases of Canadian sauces, condiments and seasonings improved by 80%, well ahead of dried shelled vegetables (up 12%), potassic fertilizers (up 11.3%) and sawn wood (up 2.3%).
Wheat and meslin posted the severest decline among the top exports from Canada to the Philippines, down by -76.5% since 2014.
Central Intelligence Agency, The World Factbook, Field Listing: Exports. Accessed on July 22, 2017
Trade Map, International Trade Centre, www.intracen.org/marketanalysis. Accessed on July 22, 2017